Growth in this market is driven by the growing pharmaceutical industry in Latin American countries such as Brazil, Mexico, and Argentina; increasing focus of MNCs on investing in the pharmaceutical and healthcare sectors in Latin America; growing pricing pressures; rapid growth in aging population & the subsequent increase in the prevalence of related diseases; and the availability of local and government funding for R&D activities.

By functionality, the filler & diluents segment accounted for the largest share of the Latin America Pharmaceutical Excipients Market

The Latin America Pharmaceutical Excipients Market, by functionality, is segmented into fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifiers & solubilizers, and other functionalities. The fillers & diluents segment accounted for the largest market share in 2018. The increased use of fillers & diluents in the development and production of solid dosage form and the wide applications of diluents in the wet granulation and direct compression process for tablet formulation are driving the growth of the fillers & diluents segment.

Mexico to dominate the Latin America Pharmaceutical Excipients Market during the forecast period

In 2018, Mexico dominated the Latin America Pharmaceutical Excipients Market, followed by Argentina. Over the past few years, Mexico has become an attractive destination for investment in the pharmaceutical industry due to its large pharmaceutical production and consumption capacity and the improved regulatory framework. Growing pharmaceutical production and consumption, increasing investments by MNCs, and improved regulatory framework are the major factors driving the growth of the pharmaceutical excipients market in Mexico.

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.